An extension to the ACT COVID-19 Business Support Grants will see employing businesses receive an additional $10,000, while non-employing businesses will receive $3,750.
Additional one‑off top‑up payments will also be made for larger businesses, including $10,000 for employing businesses with a turnover greater than $2 million and less than $5 million, $20,000 for those with turnovers between $5 million and less than $10 million, and $30,000 for those with turnovers of more than $10 million.
The co-funded package between the Commonwealth and ACT governments come after the territory’s lockdown was extended for another four weeks until 15 October.
Chief Minister Andrew Barr said the additional support would help local businesses through a further period of uncertainty.
“The COVID‑19 Business Support Grant program has already delivered over $17 million dollars to businesses suffering from significantly reduced turnover, and tens of millions more will be paid out as we work through applications,” Mr Barr said.
“The ACT Government continues to work constructively with the Commonwealth Government, I thank the Federal Treasurer and his office for their engagement to date, as we try to help Canberra businesses in these tough times.”
Additional grants for tourism, hospitality, accommodation, arts and events
Around 2,000 ACT businesses in the tourism, hospitality, accommodation, and arts and events industries will also receive additional one-off grants.
Non-employing businesses will receive $1,000, while those with employees and a turnover of less than $2 million will receive $3,000.
Employers with turnovers of more than $2 million and less than $5 million will receive $10,000, while those with turnovers of more than $5 million are set to receive $20,000.
Senator for the ACT, Zed Seselja, said these additional grants would assist industries that have been hit the hardest under the current lockdown restrictions.
“Additional top‑up payments for businesses as well as the dedicated hospitality package will ensure more businesses and jobs survive the extended lockdown, and will support a quicker recovery once lockdown ends,” said Senator Seselja.
“I have worked tirelessly to ensure the needs of Canberra businesses were being considered and I am pleased the Morrison Government is supporting these expanded support measures today.”
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.